Still lost, ES has not hit 1253 for about 4 days. Are you saying you averaged in over that time or got in today? Sorry, was following along and got stuck on that post LOL...
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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I have a question for Romik & B1S2 and I hope that it is not viewed as an attack in any way because I respect both of your views and analysis.
When the market broke down wednesday I understand why you both held your longs as there was some support levels there. But by the open thursday it seemed that the trend would be down for the next few days, why did you both decide to hold your longs and not reverse and profit from that trend that was so strong.
I was long myself but I felt i had to cover and go short thursday am as it seemed the trend would be down for the next few days. I do hope that both of you are right in your analysis, but I was just simply curious as to why you both held on and didntcover and try and find a better entry. I understand that it is a longer term play but to weather a 50 point drop on the ES seems like a of pain to maybe capture a move on the rebound of this.
I base this question on a quote that I read that really stuck with me.
"Traders don't predict, they react."
When the market broke down wednesday I understand why you both held your longs as there was some support levels there. But by the open thursday it seemed that the trend would be down for the next few days, why did you both decide to hold your longs and not reverse and profit from that trend that was so strong.
I was long myself but I felt i had to cover and go short thursday am as it seemed the trend would be down for the next few days. I do hope that both of you are right in your analysis, but I was just simply curious as to why you both held on and didntcover and try and find a better entry. I understand that it is a longer term play but to weather a 50 point drop on the ES seems like a of pain to maybe capture a move on the rebound of this.
I base this question on a quote that I read that really stuck with me.
"Traders don't predict, they react."
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